Nobel Biocare Profit Falls, But Sees Improvement
11 August 2010 - 3:38PM
Dow Jones News
Swiss dental implant maker Nobel Biocare Holding AG (NOBN.VX)
Wednesday reported a 30.5% drop in second-quarter net profit on
revamp costs and persistently weak sales in the U.S., but said that
business is set to improve during the remainder of the year and
that its current restructuring should help it in the future.
The Zurich-based company said net profit for the three months to
the end of June dropped to EUR19.6 million from EUR28.2 million a
year earlier, undercutting analysts' views of EUR21 million.
Sales, meanwhile, increased to EUR155 million from EUR153.5
million, beating forecasts of EUR150 million as the company
benefited from positive currency effects.
Despite the overall rise, sales in the U.S., Germany, Sweden and
Spain continued to fall as customers kept postponing difficult and
costly dental surgeries.
The sales drop in the U.S. and elsewhere means that Nobel
Biocare has continued to lose market share as several of its key
competitors such as Dentsply International Inc (XRAY), Zimmer
Holdings Inc (ZMH) and Biomet Inc (BMET) were able to grow in the
past quarter. Swiss peer Straumann Holding AG (STMN.EB) will report
figures on August 18.
Despite these difficulties, Nobel Biocare, whose shares have
lost more than 45% this year so far, said that its current
restructuring will help it regain its growth momentum within the
next nine to 12 months.
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47;
goran.mijuk@dowjones.com
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